Digital disruptors at the gate. Does fintech lending affect bank market power and stability?

We are grateful for the financial support from the regional government of Madrid – UAM Research Project for Young Researchers (SI3-PJI-2021-00276). Pedro J. Cuadros acknowledges financial support from the Spanish Ministry of Science and Innovation, Project PID2021-128994NA-I00 and TED2021-132896A-100, the regional government of Andalusia under Grant P18-RT3571 Project and P12.SEJ.2463. Elena Cubillas acknowledges financial support from the Spanish Ministry of Science and Innovation, Project PID2022-140940NB-I00 and from the regional government of Asturias to the Financial Economic Research Group GECOFIN, AYUD/2021/50878. Nuria Suárez acknowledges financial support from the Spanish Ministry of Economy and Competitiveness, Project PID2020-118064GB-I00, and from the Professorship Excellence Program in accordance with the multi-year agreement signed by the regional government of Madrid and the Universidad Autónoma de Madrid (Line #3).